Jan. 23 (Bloomberg) -- German lawmakers seeking to revive the Soffin bank rescue fund should extend the period it can be applied to, Raimund Roeseler, head of banking supervision at financial market regulator BaFin, said today in Berlin.
“If a bank were to say in 2013 that it can’t or doesn’t wan’t to meet the 9 percent, which I dont see at the moment,” then “we’d have other tools, but lifting the limit for this point might be a more elegant solution,” Roeseler said.
Roeseler referred to the European Banking Authority’s requirement for banks to raise core Tier 1 capital to 9 percent or more of their risk-weighted assets by the end of June this year. Europe’s top banking regulator wants to help restore confidence in the sector by asking lenders to bolster reserves after accounting for losses on some sovereign bonds.
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